It is on the topic revival in insurance

1. REVIVAL OF INSURANCE

2. Meaning of Revival
•Revival” means “To bring back to life”. Reviving
your lapsed policy is now much easier with
Policy Revival Scheme. Lapsed policy can be
revived under below scheme: 1. A Lapsed Policy
or a Policy under Reduced Paid Up Mode can
be revived as per Underwriting Policy, within the
Revival Period.

3. What is a Lapsed Life Insurance Policy?
• A life insurance policy is considered lapsed when the premium is
not paid within the grace period, which typically extends 15 to 30
days from the due date. When a policy lapses, the policyholder loses
all benefits and coverage provided by the policy.

4. • Understand the Grace Period.
• Contact Your Insurance Company.
• Review the Policy Terms.
• Pay Outstanding Premiums. .
• Provide Required Documentation.
• Medical Examination (if required)
• Reinstatement Approval.
• Pay any Additional Charges.
How to revive lapsed life insurance plans?

5. Purpose of revival period
• A revival period is used in insurance to give policyholders a chance
to renew their expired coverage. This can happen for various
reasons such as forgetting to pay, financial hardship, or
misunderstanding the payment schedule.The key purposes of a
revival period are:Coverage Continuation

6. Examples:
In this scheme date of commencement policy is changed. It is shifted
the date of revival policy.
• Instalment of revival scheme:
• Under this scheme, options of premium payment can be exercised to
revive the policy.

7. THANK YOU!